Oil & Gas

Fueling your future in a global economy

With rising global energy demand, the oil and gas industry has a wide range of challenges and opportunities across the upstream, midstream, downstream and oilfield services sectors. We help oil and gas companies navigate through the changing regulatory environment, manage risks and optimize performance.

To help seize new opportunities, our 9,200 oil and gas professionals provide guidance on key industry issues, such as:

While risk continues to dominate the energy landscape, competition is also becoming a dominate feature. We help oil and gas companies understand their business risks and develop plans to manage or capitalize on them.

Our professionals understand business operations and use their knowledge to support clients in defining and developing their strategies and risk mitigation techniques.

Players in the capital-intensive oil and gas industry began partnering more vigorously. The past two years have seen a significant ramp-up in oil companies’ planned investments in unconventional oil and gas plays, with a marked increase in joint ventures and acquisitions.

Need to make better and more informed decisions about how to strategically manage capital and implement transactions in a changing world? Let us help.

Oil and gas companies have seen significant increases in drilling, service, production and operating costs over the past decade. More complex operations generally mean more costly operations.

The most common initiatives for companies were to optimize processes and embed controls. Typically, companies in the oil and gas sector seeking to contain costs will focus heavily on third-party spend, headcount, shared services, IT efficiencies and outsourcing.

The rise of emerging markets gives the oil and gas industry a new business perspective. Challenges and opportunities exist in a growing economy, evolving government regulations and increasing competition.

Whether you have a tight focus on the BRIC countries or want to see the full range of emerging market growth, we provide a global industry perspective.

The top driver of regulatory risks, as reported by oil and gas companies in our global multi-sector survey, is the sector-specific regulatory pressures. In many countries, regulatory and fiscal frameworks are uncertain.

Our accounting and tax compliance services are focused on helping large, multinational companies meet their financial reporting requirements in the many countries where they do business.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.